The 22-year-old Northern Irishman, who signed a new contract with the Dons earlier this week, has been allowed to leave on loan in order to get some first-team minutes under his belt.
Flanagan came through the youth system at Stadium:MK and has previously spent time on loan at Kettering Town, Gillingham and Barnet.
Stevenage are currently bottom of League One, two points from safety.
Restore Data
| Team | P | W | D | L | F | A | GD | PTS | |
| 1 | Port Vale | 16 | 10 | 3 | 3 | 24 | 16 | 8 | 33 |
| 2 | Walsall | 15 | 9 | 3 | 3 | 28 | 15 | 13 | 30 |
| 3 | Doncaster RoversDoncaster | 17 | 8 | 5 | 4 | 22 | 18 | 4 | 29 |
| 4 | Notts County | 17 | 7 | 7 | 3 | 23 | 15 | 8 | 28 |
| 5 | Crewe AlexandraCrewe | 15 | 8 | 4 | 3 | 19 | 13 | 6 | 28 |
| 6 | MK Dons | 16 | 8 | 3 | 5 | 27 | 19 | 8 | 27 |
| 7 | Chesterfield | 17 | 6 | 7 | 4 | 30 | 20 | 10 | 25 |
| 8 | Grimsby Town | 17 | 8 | 1 | 8 | 19 | 26 | -7 | 25 |
| 9 | AFC Wimbledon | 15 | 7 | 2 | 6 | 23 | 14 | 9 | 23 |
| 10 | Bradford CityBradford | 16 | 6 | 5 | 5 | 21 | 17 | 4 | 23 |
| 11 | Gillingham | 16 | 7 | 2 | 7 | 17 | 14 | 3 | 23 |
| 12 | BarrowBarrow | 17 | 6 | 4 | 7 | 17 | 16 | 1 | 22 |
| 13 | Fleetwood TownFleetwood | 14 | 5 | 6 | 3 | 20 | 15 | 5 | 21 |
| 14 | Cheltenham TownCheltenham | 17 | 6 | 3 | 8 | 22 | 25 | -3 | 21 |
| 15 | Salford City | 16 | 5 | 6 | 5 | 15 | 18 | -3 | 21 |
| 16 | Newport CountyNewport | 17 | 6 | 3 | 8 | 19 | 26 | -7 | 21 |
| 17 | Harrogate TownHarrogate | 17 | 6 | 3 | 8 | 16 | 23 | -7 | 21 |
| 18 | Accrington StanleyAccrington | 16 | 4 | 6 | 6 | 22 | 26 | -4 | 18 |
| 19 | Colchester UnitedColchester | 16 | 3 | 8 | 5 | 19 | 22 | -3 | 17 |
| 20 | Tranmere RoversTranmere | 15 | 4 | 5 | 6 | 10 | 18 | -8 | 17 |
| 21 | Bromley | 15 | 3 | 7 | 5 | 17 | 19 | -2 | 16 |
| 22 | Swindon TownSwindon | 17 | 2 | 7 | 8 | 20 | 28 | -8 | 13 |
| 23 | Morecambe | 17 | 3 | 4 | 10 | 17 | 29 | -12 | 13 |
| 24 | Carlisle UnitedCarlisle | 17 | 3 | 4 | 10 | 14 | 29 | -15 | 13 |
| > League Two Full Table | |||||||||
